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WTI1! trade ideas

Wti 90 Strike is On Sale!There is something insightable happening with WTI oil. 90 strike and trade volume are attracting attention. Check out Monday's trading data below. But to properly interpret it, we need to look at the data in the context of how the price of the asset has moved. Comparing when the highest option trading activity was at the 90 strike and how the asset moved, the question becomes why the 90 option strike is being handoffed as prices move higher. It's critical to note that open interest at the 90 strike did not increase, but the option flow from previous owners to new owners did (the amount of open interest did not increase, it actually decreased slightly). Someone started buying at the 90 strike about 3 weeks ago and is now taking profits by selling their portfolio into the market, taking advantage of the rising price of call options. Our statistics show that such a scenario indicates a strong resistance level around the 90 strike and a likely bounce.
NYMEX:CLK2024
by ClashChartsTeam
WTI remains on the 'buy the dip' statusMarket positioning data from the COT report shows that asset managers and large speculators are piling into longs, yet shorts remain subdued. The price on the 4-hour chart also shows an established uptrend within a bullish channel. Prices have not yet completed a 3-wave retracement against the trend, hence the bias for a slightly deeper pullback before its trend resume. Also note that RSI (14) has not yet dipped into the oversold zone (which is now 40 given the strong uptrend). Any pullbacks towards the internal trendline or $84 will pique our bullish interest for new longs, in anticipation of its next leg higher on route towards $90.
NYMEX:CL1!Long
by CityIndex
Crude Oil, Bulls in Driver’s Seat?Crude Oil (May) Yesterday’s close: Settled at 86.43, down 0.48 On Friday, geopolitical premium helped the nearby month in Crude Oil futures traded to the highest level since October 23rd, and the May contract hit the highest since June 2022. Price action gapped lower from the 86.91 settlement on the open Sunday night, but strength into the onset of U.S. hours yesterday hit a high of 87.10. The resilience lends optimism, with the session low (Sunday night) holding that of Thursday’s before headlines lifted to new local highs. This newly established floor is now major three-star support at 84.64-84.93 and we see the bulls in the driver’s seat while above here. The EIA will release its Short-Term Energy Outlook at 11:00 am CT, and API’s private weekly inventory survey is due at 3:30 pm CT. Bias: Bullish/Neutral Resistance: 86.91-87.10***, 87.07-87.22**, 88.37-88.64*** Pivot: 86.10 Support: 85.39-85.50**, 84.64-84.93***, 84.04-84.09**, 83.71***, 83.12-83.25*** CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
NYMEX:CL1!
by Blue_Line_Futures
Can the HOUSE CAPITALIZE on the Market Correction SHORT...?NYMEX:CL1! There may be people who have more talent than you. But there's no excuse for anyone to work harder than you. -Derek Jeter Last week we tried to catch this move however our stops were hit due to sellers not being ready just yet to commit and Buyers came in to Mitigate the HTF Daily Supply Zone causing us to be stopped out... All good we rii back at it!! This is what I want to see in order to scale SHORT.... 1) Price is currently trading inside a 15m Demand ZONE and rii above a Minor Support Level ($86.65)...***I need to see this 15m Demand and the Support level fail and sellers commit to pushing for lowering pricing Per Barrel. 2) I would Like to see sellers at-least wick the 1HR CHoCh level ($86.42) and then give me a re-test of the failed support level ($86.65)... At this point I'm going to apply my risk in Support of Sellers dropping the Market and targeting ($85.50) Per. Barrell in which would be the EQ level of the 4Hr Pivot Demand Zone.... This trade SHORT can give us about +115 Points in favor. We can easily catch a solid +2.5-3R % Gain depending on your given management system! 3) I need to see the 15m Demand Fail along with the Minor Support Level with confirmed candle closures underneath pricing on the 30m TF below... I also want to see the 1Hr CHoCh level wicked!! ***ALSO price needs to be trading underneath the RED V-WAP as a last min. cherry on top confirmation...Its always a Higher Probable Trade when we are in favor the of the Vwap on the 1Hr TF... REMEMBER NOTHING IN THE MARKET IS SET IN STONE... WE play the long-term of Probability...Lets go to work!! "Its time to REACH EXCELLENCE" -Management500K
NYMEX:CL1!Short
by TreyHighPwr
Can the HOUSE CAPITALIZE on this Market Correction Short...?NYMEX:CL1! A wise man once if you're easily offended then you're easily manipulated... Good Afternoon Family I hope this week has been good to yu all... This will be a short description/narrative on why I believe we may be able to capitalize on this counter trend SHORT on OIL after we Mitigate this Daily Supply Zone a little deeper IMO>>> Vibe w/ me! 1) I want to see buyers continue to push for higher pricing and sweep the Last Current High which is ($87.22) and then fall off a cliff... 2) We have a major indecision candle on the 1Hr TF and the low pricing of that candle is ($86.45) which will cause a 1Hr CHoCh if broken... ***This is the major confirmation I will need to see with a confirmed candle closure under the 1Hr indecision candle on the 30m TF & below... Once we receive this confirmation i'm all in with the risk, covering the high for my stop.... 3) On the LTF we have a 15m Demand Zone that I need to see broken by strong sellers and cause the 1Hr CHoCh level to be broken ($86.45).... If we can get this sequence of events to happen then I'll enter SHORT for the HOUSE TO CAPITALIZE ON....***Also price needs to be trading underneath the RED V-Wap as a last min. cherry on the top Confirmation. Its always a higher probable trade when we are in favor of the Vwap...IMO>>>>> Overall Price has mitigated a HTF Daily Supply Zone & we're looking to CAPITALIZE on the Market Correction SHORT...Which is essentially a Counter Trend SHORT>>> So we need to be highly skilled in our entry price and even more skilled with our Target/Exit to CAPTALIZE on PROFITABILITY!!! Remember nothing in the market is set in stone. WE play the long-term game of probability!! Now lets sit back N stalk like the Saltwater CROC!! Its time to REACH EXCELLENCE!!! #BHM500K #NewERA #CHAMPIONS
NYMEX:CL1!Short
by TreyHighPwr
Strategic Timing for Investing in Crude OilCrude Oil (CL) Bullish Trend Continues: Surge Driven by Rising Demand and OPEC's Supply Reductions Since December 2023, CL has been on an upward trajectory bolstered by heightened demand and OPEC's proactive supply cuts. Notably, in February, the market broke through the 209-day Moving Average (MA), a significant technical indicator, and retested it in March, reaching a price peak of $80. This week, CL has exhibited remarkable strength, surpassing a major resistance level and surging above $85. With this breakout, the next plausible target appears to be $90. Considering the sustained bullish momentum and the fundamental factors supporting the price surge, the current market conditions favour a bullish stance on CL.
NYMEX:CL1!Long
by aminearga
Oil up 1%, US WTI at 5-month closing high, market seen Crude prices edged up about 1% on Monday with U.S. futures closing at a five-month high, on expectations that economic growth in the U.S. and China will boost demand, while supplies tighten on OPEC+ output cuts and attacks on Russian refineries. Brent futures for June delivery settled at $87.42 a barrel on Monday, June's first day as the front month. That was up about 42 cents, or 0.5%, from the April 28 settlement price for the June contract. April 29 was the Good Friday holiday. On April 28, the May Brent contract settled at a five-month high of $87.48 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained 54 cents, or 0.7%, to settle at $83.71, their highest close since Oct. 27.
NYMEX:CL1!Long
by Khairil_Anuar
a weekly price action after hour update - oilGood Morning and I hope you are well. WTI Crude Oil bull case: Still inside the bull channel but market get’s more two sided trading. I can’t see another strong leg up but more trading range price action between 80-85. 85 Should be the max here and the very big triangle will probably play out over more months. Upside is probably very limited here. bear case: Bears doing enough to make this two sided and bulls refrain from buying too high. Market will probably test the daily 20ema soon, which is around 80.64 and around the lower bull channel trend line. Invalid above 85. outlook last week: “Neutral - Sideways to up probably. We could range more and get a small second leg down but not lower than 78. Then a retest of the high is expected.” → Last Sunday we traded 80.63 and now we are at 83.02. Bulls stronger than expected but I gave those targets months ago and clear invalidation points for bulls and bears. short term: Neutral again. Market is high enough here at 83. I see 85 as max and we will probably see more profit taking here and a pullback to the daily 20ema. So valid targets in both direction means neutral for me. Below 80 I turn bear again. medium-long term: Bullish targets also met for me here. Big triangle still playing out and I’m only interested in shorts here. I wait for market weakness.
NYMEX:MCL1!
by priceactiontds